TransAlta's Profit Doubles

Updated July 19, 2002 12:01 a.m. ET

TransAlta, the Canadian investor-owned power generator, said a big gain from the sale of its Alberta transmission system helped it more than double second-quarter earnings in the face of sharply lower electricity prices. Excluding the 110 million Canadian dollar (US$71.4 million) gain, and some charges to earnings, the showing came in a bit below analysts' estimates. TransAlta, known for its coal- and gas-fired plants in Canada, the U.S. and Mexico, reported earnings of C$125 million, or 74 Canadian cents a share, up from C$59 million, or 35 Canadian cents a share, a year...